Long German Stock index above 12416.0 towards 13000.0
The German Stock Index is still struggling to hit the daily support line 12416.0. During this week, I expect a decline towards 12416 from where I've placed a pending buy limit order with my Stop loss below the recently lowest low 12209.0 and TP at 15000. The previous week's candle is an indecision candle which could mean lack of decision to continue both ways. That said, I expect consolidations above 12416 until a clear bullish candle shows up or if the line 12416.0 is clearly breached to the lower side with a big red candle.
Short Silver towards 16.8
For the past two weeks, Silver has declined in price despite our expectations to rise towards 18.61. This week, I expect further decline towards the short term support line 16.81 and a possible breakout to the lower side. If this should be the case, then I'll wait for a pullback to the just broken line to continue short towards 14.40. Alternative, If price should rise, then 18.61 will be the place to place a pending sell limit order.
Trade Signal Short Silver towards 16.81
Short ASX towards 5692.5
Recently, false breakout was seen when the Australian index broke out below 5692.5 but failed to sustain this breakout. Instead, this index rose above 5692.5 and towards a major resistance trend line. Unless there's a clear bullish breach above this trend line, I still expect a possible rejection from this trend line to short this index towards 5692.5. A break below this support will lead to further downward movements probably towards 5374.3. Alternatively, conservative traders should wait for a clear breakout below 5692.3 to short ASX towards 5374.
Short ASX towards 5692.3. A breakout below this support line will push the price further towards 5374.0